Finder makes money from featured partners, but editorial opinions are our own.

LianLian International will use Ripple xCurrent for China payments


shutterstock ripple coin crypto 738x410

Ripple makes further inroads into China, adding LianLian International as a new regional RippleNet payment hub.

LianLian International, a Hong Kong-based international payment service, has signed an agreement to use the Ripple xCurrent system for payments to China, reports Digital Journal.

xCurrent is one of three core Ripple products, designed to facilitate fast and cheap cross-border payments.

Ripple describes it as the "enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles."

LianLian International will be using xCurrent to accept payments from overseas financial institutions using RippleNet and then send them to Chinese recipients. LianLian gets the benefits of an advanced payment solution, and Ripple gets the benefits of a potentially significant RippleNet foothold in China.

"Cross-border payments related to China's e-commerce market reached $1.07 trillion in 2017. There is a huge opportunity to make these payments quicker and more cost-efficient," said Emi Yoshikawa, director of joint venture partnerships, Ripple. "With RippleNet, LianLian will now be able to provide merchants and consumers with on-demand payments, which they weren’t able to before. We look forward to connecting other RippleNet members to LianLian."

Arthur Zhu, LianLian chairman of the board, said, "With RippleNet, we will further enhance [customer] experience and increase our market share by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support. We look forward to working with Ripple to power payment flows between China and RippleNet members in new markets."

Wider uptake around its core function of international money transfers may be good news for Ripple, although it's not 100% clear how the use of Ripple as a commercial solution directly ties into the coin's price.

The news also comes in the wake of another crackdown on cryptocurrency exchanges in China. RippleNet and xCurrent might be making significant inroads, but XRP itself may be largely off the market in China.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news


Disclosure: At the time of writing, the author holds ETH, IOTA, ICX, VEN and XLM

Get started with crypto

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site